As if buying a car isn’t stressful enough then you need car insurance. This should be relatively simple with the proper research. There are so many auto-insurance companies to choose from, so do your due diligence and make sure you are getting the coverage you need for the right price. Here are some helpful tips in doing just this.
What Information Will I Need For A Quote?
- Driver demographic information
- Information on the vehicle
If there will be multiple drivers on your vehicle then you will be required to provide not only your information, but theirs as well. This information typically includes name, date of birth, driver’s license number, and the state it was issued. You will also be asked about previous driving history such as accidents or any previous suspensions.
How Do I Get A Quote?
With the information above ready to go, it is quite simple to receive a quote from an agent. You can visit an agent in person, receive a quote online or by phone. There will be many coverage options available and taking the time to evaluate these options closely could give you the security of knowing you have the proper coverage and save you money down the road. It’s not unusual to get multiple quotes from different agencies to compare which suits you the best.
Be Aware Of Your State’s Minimum Coverage Requirements
Although getting the bare minimum can save you money upfront, it may be a mistake if an accident were to occur. Each state has a minimum coverage amount required, but this minimum may not be financially adequate.
How Do I Know Who Has The Best Rates?
There is no way to know which company has the best coverage and rates. That is why it is important to get multiple quotes. Also, take advantage of any discounts that they offer.
Do I Need Full Coverage Or Liability?
Liability is typically required at the very least in most states, however they could vary. Going to your local DMV’s website will provide you with this information. If you have a lien on your vehicle, you will likely need what is called “full coverage”.
How To Determine How Much Coverage Is Needed
Coverage needed is determined by many factors including the age of driver, how old the car is, how many miles it has on it, and your credit rating. Here are some typical add on coverages offered by most carriers.
- Personal injury protection (PIP) – If you and any passengers you may have are involved in an accident with injuries, this will cover burial costs and loss of wages – this is not to be confused with bodily injury coverage.
- Uninsured and Underinsured Motorist Coverage – If you are involved in an accident with a person who doesn’t have insurance or a hit and run, this will cover it.
- Collision Insurance – This will cover if you are involved in an accident at which you are at fault and damage a car or any property.
- Comprehensive – Covers your vehicle from damages that aren’t linked to a collision. This would include things such as falling objects, hitting an animal, fire or burglary.
Increase Your Deductible
If you increase your deductible, it can save you a great deal on your monthly/annual premiums. Although a little risky, increasing the deductible can save you approximately 40% or more.
Added Safety Features On Your Car
If you add security features to your car to help prevent theft, this can also reduce your premium. Having your car stolen is a loss for everyone involved, including your insurance agency. Add things such as wheel locks, tracking system, and an anti-theft system.
Yes, even your auto-insurance carrier takes your credit into consideration when giving you that quote. If you are able to increase your score, it will help reduce your premium.
If you are a student driver and want to save money, make good grades. A GPA of 3.0 or greater can potentially decrease your rates.
Rollins Insurance is an independent insurance agency providing our clients the best prices with the most coverage possible since 2008. We represent multiple A-rated insurance companies to make sure we deliver the most competitive rate packages to our clients in Kentucky and Ohio. We find that most people are under-insured and over-paying when we meet them. We love what we do and our primary business is Personal Auto, Homeowners, and Life and Health insurance. We are a family-owned and managed business that specializes in providing needs-based insurance services.
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